CPA - Certified Public Accountant, CGMA - Chartered Global Management Accountant
Bachelors or equivalent
The World Bank Group is one of the world’s largest sources of multilateral funding and knowledge for developing countries. It uses its financial resources and extensive experience to help client countries reduce poverty, increase economic growth, and improve quality of life. It is owned by 188 member countries and delivers services out of 120 offices with over 16,000 staff globally.
World Bank Group Finance and Accounting (WFA), one of the vice presidencies in the Bank Group led by the World Bank Group Controller under the Managing Director and CFO, is responsible for all aspects of the financial reporting and internal control framework for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC) and the extensive Trust Fund/Partnership portfolio of those entities.
WFA comprises the following functions: Financial Instruments Accounting and Valuation; Loan and Trust Fund Operations and Accounting; Financial Analysis and Reporting; Accounting Policy; and Risk and Control. The WFA team includes approximately 500 staff, of which 170 are located in Washington, D.C. with the remainder in regional offices, including the largest in Chennai, India.
Hiring Unit Overview
The Accounting Policy unit for IBRD and IDA (WFAPO) report to the Director and World Bank Group (WBG) Chief Accountant. This department includes the financial reporting, internal control and policy functions of IBRD, IDA and IFC. As the central unit for accounting policy development and advice for IBRD and IDA (the Bank), WFAPO:
• Monitors and evaluates external standard-setting activities for both accounting and auditing policy and practice, as well as regulatory activity, Establishes the Bank’s position in response to proposed accounting and auditing standards, and formally conveys the Bank’s views to external standard setting entities in the form of comment letters.
• Assesses the impact of new and proposed accounting and auditing pronouncements on IBRD’s and IDA’s financial statements, financial operations and governance.
• Provides support for financial statement preparation by the Bank’s Corporate Reporting and Analysis (WFACR) unit.
• Provides accounting policy advice on the accounting and financial reporting implications of existing and potential transactions of the Bank.
• Supports the Director and WBG Chief Accountant’s representational role on the standard setting bodies and oversight groups (e.g., IFRS Advisory Council).
• Serves as an external audit liaison on policy issues, including serving as an institutional focal point for the external audit policies established by the Board.
• Supports the functioning of the Front Office of the Director and WBG Chief Accountant, and assists with coordination activities across the Department and within WFA, as necessary.
Duties and Responsibilities
• Monitoring External Activities: Regularly monitor new pronouncements and projects of the accounting and auditing standard-setters and regulators, including the FASB, IASB, PCAOB, AICPA, IAASB, and SEC. In response to proposed accounting standards, participates in formulating the Bank’s position on proposals and may draft public comment letters to external standard setting entities reflecting the Bank’s position. Maintain the database of applicable pronouncements and projects, generate regular reports.
• Assessing Standards: Assess the impact of and prepare policy deliverables for new pronouncements, exposure drafts, and other due process documents. Participate in implementation of applicable final accounting standards.
• Financial Statement Review: Review and prepare comments on the IBRD and IDA quarterly and annual financial statement and Management Discussion and Analysis. Advise on policy-related reporting issues for trust funds, and review trust fund financial statements, as necessary.
• Accounting Policy Advisory: Provide advice and expertise to the units in WFA and to other parts of the Bank on the accounting and financial reporting implications of existing and potential transactions. Participate in the new products assessments. Support the Director and WBG Chief Accountant’s representational role on the external standard setting bodies and oversight groups (e.g., IFRS Advisory Council). This includes review of relevant documents, drafting of correspondence/comments, and coordination.
• Internal Controls: Participate in maintaining an effective system of internal control over the Accounting Policy function through following protocols for documentation and communication. Participate in the annual assessment of the function under the Internal Control over Financial reporting (ICFR) attestation process, including preparing walkthrough materials and providing supporting documentation.
• External Audit Relationships: Interact with external auditors on accounting policies and financial statement disclosure matters.
• Front Office Support: Assist the Lead Policy Officer in supporting the Front Office of the Director and WBG Chief Accountant, as necessary. Research and analyze various institutional topics; prepare note and briefs; participate in departmental initiative and mandates.
• Other ad-hoc assignments as requested by the Head of Accounting Policy and/or the Director and WBG Chief Accountant.
Successful candidate should have (i) demonstrated strong technical accounting skills, (ii) excellent written and oral communication skills, (iii) proven ability to handle a variety of tasks while delivering on time, (iv) proven ability to work in a team environment, and (v) good judgement and discretion.
• Qualified candidates should at a minimum hold a CPA, CA or equivalent certification and have a minimum of 5 years related experience.
• Previous audit experience in a Big 4 public accounting firms is highly desirable.
• Background in financial reporting and analysis and strong knowledge of U.S. GAAP and International Financial Reporting Standards (IFRS).
• Proven ability to conduct research of accounting and financial reporting issues. Experience with using accounting research tools is a plus.
• Proven ability to develop creative solutions for day-to-day accounting, reporting and analysis issues.
• Excellent oral and written communication skills in English. Ability to articulate complex technical ideas clearly to all levels of management and staff. Good presentation skills are desirable.
• Demonstrated ability to manage effectively tasks of various sizes, from small to complex, and simultaneous competing demands, and to deliver on time.
• Proactive, innovative, with an open and collegial work style with ability to listen and integrate ideas from diverse views, create partnerships, and collaborate with others while maintaining individual responsibility.
• Proven ability to work and deliver in a small team environment, providing support to others on the team, as necessary.
• Demonstrated ability to deal appropriately with confidential and sensitive matters. High degree of discretion and judgement is required.
For Corporate Information and to apply to the position, please visit www.worldbank.org/careers, vacancy number 171518.Deadline is September 13, 2017.
The World Bank Group is committed to achieving diversity in race, gender, nationality, culture, and educational background. Individuals with disabilities are equally encouraged to apply.
The World Bank, a member of the World Bank Group, is a vital source of financial and technical assistance to developing countries around the world. Our mission is to fight poverty with passion and professionalism for lasting results and to help people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and privat...e sectors.
We are not a bank in the common sense; we are made up of two unique development institutions owned by 188 member countries: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).
Each institution plays a different but collaborative role in advancing the vision of inclusive and sustainable globalization. The IBRD aims to reduce poverty in middle-income and creditworthy poorer countries, while IDA focuses on the world's poorest countries.
Their work is complemented by that of the International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA) and the International Centre for the Settlement of Investment Disputes (ICSID).
Together, we provide low-interest loans, interest-free credits and grants to developing countries for a wide array of purposes that include investments in education, health, public administration, infrastructure, financial and private sector development, agriculture and environmental and natural resource management.